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World Economic Forum 2024 News & Headlines | The HinduBusinessLine

US to have only two genders, male and female: Trump World Economic Forum: Trump tells businesses to manufacture in US or face tariffs TN emerging hub for R&D, advanced manufacturing: Rajaa in Davos RBI in no rush to implement CBDC full scale, says Governor Das Digital currency will make cross border payments more efficient: RBI Governor Shaktikanta Das Adani Group signs MoU with Maharashtra govt to invest ₹50,000 cr in data centers GODI India to set up Lithium Giga Factory in Telangana with Rs 8,000 crore Karnataka signs MoUs worth ₹22,000 crore with 7 companies World Economic Forum to set up 4IR centre in Hyd Maharashtra expects ₹Rs 3 lakh crore MoUs in Davos WEF 2024: CII India Business Hub launched at Davos RBI Guv Shaktikanta Das to Address WEF Annual Meet at Davos on Jan 17 World Co-operative Economic Forum formed in India India to push back against ‘agenda-driven’ global ranking firms: Sanjeev Sanyal Indian job market to see 22% churn in 5 years; AI, machine learning among top roles: WEF Serum Institute to set up CoE in Infectious Diseases and Pandemic Preparedness in Hyderabad PepsiCo to increase GBC headcount to 4,000 Davos gears up for World Economic Forum post-pandemic gathering; Indian presence significant India will need $800 billion by 2030 to meet COP26 RE capacity commitments World Economic Forum looking at solutions from India to help accelerate decarbonisation WEF signs pact with Madhya Pradesh to promote agri innovations through PPPs Global recession increasingly likely as cost of living soars: WEF survey
TN keen to establish India Centre for Advanced Manufacturing in partnership with WEF
By BL Chennai Bureau · 2023-08-22 · via World Economic Forum 2024 News & Headlines | The HinduBusinessLine
TRB Rajaa, Minister for Industries

TRB Rajaa, Minister for Industries

The Tamil Nadu government is keen to establish the India Centre for Advanced Manufacturing in partnership with the World Economic Forum (WEF). The State government in collaboration with the WEF hosted a public-private discussion attended by nearly 20 business leaders to deliberate on establishing the centre in Chennai.

Proposed as an initiative to foster national and international collaboration in advanced technologies, the Centre aims to support companies in their innovation, sustainability, and R&D endeavours. Drawing on the global expertise of the WEF and the insights of Guidance Tamil Nadu into local priorities, the State government intends to set up the Centre in Chennai, says a release issued by the office of the State Industries Minister TRB Rajaa.

Focus areas

The discussion highlighted three key focus areas for the Centre — technology adoption and innovation, industry-academia engagement and sustainable production. Participants from various sectors, including electronics, automobile, and general manufacturing, actively engaged in the dialogue alongside representatives from government bodies such as the MSME Department, TIDCO, and TNSDC.

Rajaa in his speech said, “We have already started the digital transformation process, and Tamil Nadu becoming the capital of advanced manufacturing will further bolster our effort.”

The Centre’s three-fold objectives are supporting high-end innovation, new business models and digital transformation for manufacturing companies, including SMEs; promoting industry-academia collaboration to drive innovation, workforce upskilling and research and development and facilitating system-wide collaborations to support supply chain decarbonisation and circularity.

Enhancing competitiveness

Tamil Nadu has already established three Centers of Excellence in collaboration with Siemens, GE and Dassault Systemes, providing vital support to start-ups and MSMEs to enhance their competitiveness in both local and global markets. Additionally, Industrial Innovation Centres have been set up at SIPCOT Parks in Sriperumbudur and Hosur to foster industrial innovation and accelerate technology adoption.

To further enhance the State’s capabilities and attract critical industries like semiconductor, green hydrogen, and solar PV module manufacturers, the Government is actively considering setting up knowledge parks in major cities in partnership with international research institutes, he said.

The State’s partnership with the WEF and other stakeholders is crucial in elevating Tamil Nadu to higher value-add segments of the manufacturing value chain. Amid the fourth Industrial Revolution’s transformative technological advancements and supply chain disruptions, these efforts are expected to equip industries to adopt new technologies and maintain competitiveness, he said.

Published on August 22, 2023